The Reserve Bank of India (RBI) reported on Friday that during the week ending January 12, India's foreign exchange reserves increased by USD 1.634 billion to USD 618.937 billion. The total reserves had fallen by USD 5.89 billion to USD 617.3 billion over the previous reporting week.
In October 2021, the nation's foreign exchange reserves hit an all-time high of USD 645 billion. The reserves suffered as a result of the central bank using the kitty to protect the rupee from pressure brought on mostly by events that have occurred globally since last year.
According to the report, foreign currency assets, which make up a significant portion of reserves, grew by USD 1.859 billion to USD 548.508 billion for the week that ended on January 12.
The effect of non-US units like the euro, pound, and yen held in the foreign exchange reserves appreciating or depreciating is included in the foreign currency assets, expressed in terms of dollars.
The RBI reported that throughout the week, gold reserves decreased by USD 242 million to USD 47.247 billion.
According to the apex bank, the Special Drawing Rights (SDRs) increased by USD 12 million to USD 18.31 billion.
The RBI statistics also showed that during the reporting week, India's reserve position with the IMF increased by USD 6 million to USD 4.872 billion.
